Spain and Latin America are the next two big markets for online gambling operators. To find out just exactly how profitable venturing into these markets will be, several firms have looked into the potential for lucrative business in Latin American countries.
The biggest markets within Latin America have revealed themselves to be Brazil, Costa Rica, Columbia, Mexico, Peru and Chile. Smaller countries are also showing an interest in the industry such as Uruguay and Paraguay.
The growth of internet technology in Latin America lends itself well to the potential of the online gambling market becoming fruitful in those countries. In 2009, over 180 million people in Latin America had access to the internet and used its services regularly. Since then, the numbers have grown by 30% each year. With millions of users being exposed to the internet every year, Latin American countries present a great opportunity for online casino operators.
The area also presents one of the most potentially lucrative mobile gaming markets. In 2009, 469 million people were using mobile applications from their phones, 80% more than anywhere else in the world.
The tax benefits that Latin American countries would earn from legalizing and regulating online gambling within the area would contribute greatly to much-need government funding. With a market potentially worth billions, the tax revenue generated would be huge economical boost.